Vice President Joe Biden told the AARP today:
We’re going to go bankrupt as a nation. Now, people when I say that look at me and say, ‘What are you talking about, Joe? You’re telling me we have to go spend money to keep from going bankrupt?’ The answer is yes, that’s what I’m telling you.
The quote is stunning both because Biden admitted that the U.S. is going to go bankrupt, and because he is still buying into what Mish calls the “Keynesian claptrap” of expecting a “free lunch”.